Remaking Miami’s Watson Island is worth spending at least $1 billion, developer Jorge Pérez told the city.
Pérez, who heads Related Group, told commissioners that he and his partners are already well on their way to investing 10 figures in Island Gardens, the three million-square-foot development Related Group plans for Watson Island. The mega-yacht complex project has been stalled for a dozen years, exMiami reported.т назад.
The project, which Pérez described as a “crowning achievement,” is being designed by local firm Nichols Brosch Wurst Wolfe; the developers, which include Miami Dolphins owner Stephen Ross of New York’s Related Companies, have already paid several millions of dollars in architectural and legal fees.
Pérez and Ross became co-developers of the property earlier this summer along with Flagstone Island Gardens, which received a lease extension from the commission. Island Gardens will be reachable by car or bike — or water taxi. Plans also include 60 slips at a 13.5-acre marina, 200 residences, 500 hotel keys and 50,000 square feet of leasable space.